Escondido-based Realty Income Corp. has purchased a two-building community shopping center in El Cajon for approximately $20.1 million, according to CoStar Group and public data.
The seller of the 128,343-square-foot retail property, at 2366 and 2398 Jamacha Road, was Kimco Realty Corp. of Hyde Park, NY.
The center was built on 8.59 acres in 1994 and was fully leased at the time of sale, with tenants including Kohl’s and Wells Fargo Bank.
Realty Income (NYSE: O) is a real estate investment trust that invests in retail, industrial and related commercial properties. Kimco Realty (NYSE: KIM) is a retail-focused REIT that owns several shopping centers in San Diego County.